Nicholas M. Romer - Page 4

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          residence.  He eventually sold the residence to a different buyer           
          in 1994.                                                                    
               As a result of the foregoing events, petitioner divided his            
          time during 1993 between Nashville and Minneapolis.  He reduced             
          his pilot rank from captain to first officer co-pilot and took a            
          reduction in salary which enabled him to travel more easily to              
          Minneapolis.  His regular flight schedule during 1993 involved a            
          short flight from Nashville to Paducah, Kentucky, in the evening,           
          staying overnight in Paducah at the airline's expense, and a                
          short flight back to Nashville the following morning.  He would             
          repeat this round trip to and from Paducah three evenings and               
          three mornings in a row.  On the last morning of his weekly                 
          flight schedule, petitioner would take a 3-hour flight to                   
          Minneapolis where he would work for 2 or 3 days for Romer.                  
               During his spare time in Tennessee, petitioner spent a few             
          hours per week training a horse.  He had played polo as a hobby             
          for many years prior to his relocation to Nashville and believed            
          that several wealthy polo players in the Nashville area would be            
          willing to pay at least $40,000 for a properly trained horse.               
          Petitioner had a horse shipped to Nashville from Minnesota in               
          January 1993.  He did not attempt to train this horse but he did            
          lease it to other individuals.  In May 1993, he purchased a                 
          second horse for $1,300 which he attempted to train as a polo               
          horse.  This horse did not prove to have the athletic ability               
          required to present it for sale.  Petitioner's records show that            




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